Stenger Family Office LLC Purchases New Stake in Public Storage (NYSE:PSA)

Stenger Family Office LLC bought a new position in shares of Public Storage (NYSE:PSA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,816 shares of the real estate investment trust's stock, valued at approximately $1,143,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Public Storage in the 4th quarter worth about $2,706,000. Dagco Inc. bought a new position in shares of Public Storage during the fourth quarter valued at about $242,000. Canada Post Corp Registered Pension Plan bought a new stake in Public Storage during the fourth quarter worth $8,979,000. Walleye Capital LLC boosted its holdings in shares of Public Storage by 260.5% in the 4th quarter. Walleye Capital LLC now owns 2,592 shares of the real estate investment trust's stock worth $776,000 after buying an additional 1,873 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Public Storage during the 4th quarter valued at approximately $657,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Up 2.3 %

PSA stock traded up $6.72 during trading on Friday, reaching $295.75. The stock had a trading volume of 741,372 shares, compared to its average volume of 735,938. The company has a market capitalization of $51.88 billion, a P/E ratio of 30.71, a PEG ratio of 4.91 and a beta of 0.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The firm has a fifty day moving average price of $295.93 and a 200 day moving average price of $311.89.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and decreased their target price for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Royal Bank of Canada dropped their price target on Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research note on Thursday, April 10th. Finally, Mizuho initiated coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $332.08.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.